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Jax Daily Record Thursday, Dec. 31, 202012:05 PM EST

Somerset Properties buys eight Jacksonville warehouses for $28.2 million

The facilities, totaling 380,500 square feet, are in the south and west sides of the city.

Investors sold eight warehouses around Jacksonville among six deeds for almost $28.2 million to Pennsylvania real estate company Somerset Properties.

The deeds and mortgage were executed Dec. 24 and recorded Dec. 31 with the Duval County Clerk of Courts.

Webster Bank of Waterbury, Connecticut, financed the deal with a $19.25 million mortgage.

Newmark Phoenix Realty Group President and principal John Richardson and Senior Vice President and principal Ladson Montgomery represented the sellers along with Michael Lohmann and Michael LaPointe with Newmark’s Capital Markets group out of Miami.  

The properties are in South and West Jacksonville.

South Jacksonville: 9855 Florida Mining Drive, Buildings 1 and 2; 5748, 5867 and 5885 Mining Terrace; and 3010 Powers Ave.

West Jacksonville: 600 Suemac Road and 5875 Highway Ave.

Property records show they total 380,500 square feet of space and were built from 1974 to 2008

Investors that include the leadership of Kennedy Investments Inc. in Tampa and Sam Rodante in Jacksonville sold the properties through separate ownership groups.

Somerset, based in Lower Gwynedd, Pennsylvania, bought them through SPI/CSIM JIP Property Owner LLC.

Somerset already has a presence in Jacksonville. It bought the three-building Capital Plaza at 10401 Deerwood Park Blvd. N. in July 2019.

The company says it is a full-service real estate company that operates in the eastern U.S. 

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